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Business Income Insurance

Do I need business income insurance?

To answer that question, you need to ask yourself another: could your business survive and overcome a crisis? If your premises were damaged, for instance, and you were unable to trade, could you cope financially?

Damage and disasters – whether accidental, natural or criminal– can be devastating for businesses. Many simply don’t have the resources available to carry on trading, which means loss of income and, in the most extreme cases, closure. If you find your business becomes the victim of a crisis that leaves you unable to trade, business income insurance is there to help you through the financial side of things, and to help you get back up and running.

Why choose Aviva?

Up to £1 million protection

Disaster can be pricey. But with up to £1 million protection over a three year period, you know that your income is covered in the face of adversity.

Free 24/7 legal and tax helpline

We’re on hand to help you through every step of the process with confidential support available round the clock.

Simple claims

Need to make a claim? With Aviva it’s quick, easy, and straightforward – and all dealt with by our UK claims centre. That’s another load off your mind.

What’s included

Cover for ongoing operating costs and additional expenses if you have to move to alternative premises or hire extra staff

Cover if your suppliers’ premises are damaged, resulting in loss of trade

Protection for loss of money owed to you due to damage to or theft of your accounts records

Cover if your electric, gas, water or telecommunications supply is disrupted and stops you from carrying out your business

Cover for any expenses required to limit loss of income if the owner, partner or director dies or becomes permanently disabled

See Employers’ Liability Insurance

Got a question?

We answer some of the most frequently asked questions about employers’ liability insurance.

How much cover do I need?

To work out how much cover you might need, you should consider how your business would cope if, for example, your premises became temporarily unusable because of fire or serious damage.

Our standard amount of cover is £1 million over a 36 month indemnity period, so you won’t have to choose a cover limit.

What’s not included?

Losses excluded under your tools, stock and business equipment or buildings and contents cover will also be excluded under your business income insurance.

Erasure of distortion of data isn’t covered by your business income insurance unless caused by damage to your computer equipment. You’re also not covered if your business is wound up or carried on by a liquidator or receiver, or is permanently discontinued.

Is business income protection tax deductible?

Business income insurance is tax deductible. It counts as an allowable expense, which means it’s one of the costs you can deduct when calculating your taxable profit. We recommend speaking to your accountant or contacting a financial adviser for help with making any tax-based decisions.

What if I bought my business income insurance from a broker?

If you purchased your Aviva insurance policy through a broker, please contact them for help with any queries you might have.

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